Brazil this year is increasing purchase of fertilizers from Russia
PhosAgro boosted exports of fertilizers by 8% in the first four months of this year compared with the same period in 2022, according to a report from GlobalFer, which specializes in the industry’s info.
At the same time, supplies to Latin America soared by 50%, while deliveries to Europe fell by 10%, said PhosAgro Chief Financial Officer Alexander Sharabaika.
As the company sells fertilizers on the spot market, the overall picture of exports by the end of the year will depend on the geography of solvent demand, the CFO added. The company’s output plan for 2023 is 11.3 million tons..
Another company, Uralchem, had to restructure the business in terms of markets in 2022, “including shifting some of our sales from Europe to Africa, Brazil, and Latin America,” said the Board Chairman, Dmitry Tatyanin, in an interview with TASS.
The need for such adaptations rose in response to the war that began in Ukraine in 2022, giving place to purchase restrictions in Europe and sanctions that end up impacting the inflow of Russian products.
“In general, the company has adapted to the challenges of the international freight market. We do not currently see any systemic issues with delivering products to customers,” he said.